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Msg  67071 of 67728  at  3/30/2020 11:38:58 AM  by

carswell


Coffee/Summaries

BEFORE THE OPEN
Source: Thomson Reuters
  • Futures for Canada’s main stock index were in the green, after the Canadian government said on Friday it would cover 75% of wages for small businesses and the central bank cut its key interest rate
  • Wall Street futures see-sawed, as President Donald Trump extended his stay-at-home guidelines until the end of April
  • European shares fell
  • Japan’s Nikkei dropped on fears that Tokyo could face its first-ever lockdown
  • The U.S. dollar snapped a week of declines, rising against major currencies, while gold was steady
  • Oil prices fell sharply, with U.S. crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on worries that demand for fuel could decline further
STOCKS IN THE NEWS
Source: Thomson Reuters

Air Canada (AC) & Transat AT Inc (TRZ):
  • Air Canada's proposed C$720 million acquisition of tour operator Transat AT will result in a substantial lessening or prevention of competition, the Canadian Competition Bureau said on Friday
  • The deal would result in increased prices, less choice, decreases in service and a significant reduction in travel on routes where their existing networks overlap, the agency said
Royal Bank of Canada (RY), Toronto-Dominion Bank (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) & Canadian Imperial Bank of Commerce (CM):
  • Canada's top lenders lowered their prime rates by 50 basis points on Friday, hours after the central bank unexpectedly cut its key interest rate to help the county weather the economic fallout of the coronavirus pandemic
American Airlines Group Inc (AAL):
  • The airline is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said
  • Millstein is one of Wall Street's most seasoned debt restructuring bankers and from 2009 to 2011 was the chief architect of the Obama administration's overhaul of certain financial firms the government had bailed out, including insurance giant American International Group
General Motors Co (GM):
  • U.S. President Donald Trump on Friday invoked emergency powers to require the automaker to build much-needed ventilators for coronavirus patients after he accused the largest U.S. automaker of "wasting time" during negotiations
  • Trump, who has been on the defensive for not moving faster to compel the production of medical equipment, for the first time invoked the Defense Production Act, saying GM was not moving quickly enough even though earlier on Friday the largest U.S. automaker announced it would begin building ventilators in the coming weeks
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • There are over 140,000 cases of COVID-19 in America
  • Americans will continue to be self-isolated until the end of April
  • 10-year Treasury yield is at 0.638%
Calian Group Ltd.* (CGY: $35.00)
Centerra Gold Inc.* (CG: $8.81)
Green Thumb Industries Inc.* (GTII: $8.75)
PetroShale Inc.* (PSH: $0.11)
Superior Plus Corp* (SPB: $7.52)

Livongo Health, Inc.* (LVGO: $24.23)
TELA Bio, Inc.* (TELA: $8.01)

INDUSTRY UPDATE
Oil

MORNING INK REPORT
Watching for multiple insider buying

MACRO - EVENT SCHEDULE
Source: Bloomberg Finance L.P.
N/A

MOST READ NEWS
Source: Bloomberg Finance L.P.
N/A
“Always turn a negative situation into a positive situation."

- Michael Jordan

ASSET CLASS PERFORMANCE
Source: FactSet
*All numbers presented on the table below is based on total return
 


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